Charity registration number 1084969 WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST LEGAL AND ADMINISTRATIVE INFORMATION Tru$tet$ P Rigg Mrs A ChrFstie S F Knight DL N Hart {Chairm) M Lews P J Jenkins J C F Harvey Mr N Suthertand Chorlty number 1084%9 Prln¢lpal addr•*s Singletr West Suwx Chichester P018 OEU Ind•p•nd•nt •xarnln•r Dawd Knlght FCA CTA Carpenler Box Plp8r House 4 Dukes CcffjJrt 8ognor Road Chlch8sler Wast Sussex P019 8FX Bank•rn 8ardays Bank F4c 74n5 East Street Chichester West Sussex P019 1HT Sollcltors Ir¥Mn Mrtthel Irwn Mrtchdl Soliatcws Thomas Eggar House Frlary Lane Chichestef West Sussax P019 IUF Investm•nt •dvl•orn LGT Wealih Management 14 Comhill London EC3V 3NR Sarasin & Partnern LLP Juxon House 100 Sl Paufs Churchyard London EC4M 88U
WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST CONTENTS Pag• Trustees, report Indtspendent examln*s rewrt Statement of ffin8n0 acts.vits Balance sheet Stotement of cash Notes lo the flnanual ststem•nts 7-15
WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The twslees present their annual reFth and financial ststements for the year ended 31 December 2025. The finandal statements have been prepared in acc(Ydance 4wlh the accounting pc4icies set out in note 1 to the firiancial statements and compty the thArtys goveming document. the Charities Act 2011 8nd 'Accounting and Reports'ng by Charib'es". Siatemenl ol RecoMrnered Practice applicable to charities preparing their accounts In aGcord4nce wlth the Flnancial Reporting Standard apF4icable in the UK and Republic of Ir8Land {FRS 1 D21 leff8ctive 1 January 20191.. Obj•ctlv•s and actlvltl•s The Trust's objects are to supFNt and aid the Weald & Downland Museum Limited (Registered Charity No. 3063381 in pursuafKe of it¥ tharilable objecAives. The trustees confimi thal they have referrefl lo the guidance conlained in lh8 Charty CLYnmission's general guidance on public benenl when reewIng the TNsfs aims and obJ"ecb'ves and In 8finIng future 8cllvilies and setling the grant rnaking policy for ihe Trust. Investment At tho year end, the Trusi's Snveslmenls wer8 hdd in LGfs Volare Funds and Ihe SaT8sln & Partners Endowment Fund and related Liquidity Funds. Th8 inv8slm6nls relating lo the Heritage Lottery Fund Heritage Endowments Fund are maintsined in separate sua¢cOUnts. Cash lo moet immediale requiremenis is held with Bardays, with addition81 funds in the CCLAJCOIF Charities Del Fund. Inv•slmenl p0cY The policy of the Iruslees is that the fiJnd5 bè inve818d in 8 balanced prfolio of SeIntIeS investrng in the UK and overseas ¢quilies, fixed interest securities and c(4lectlves as Ihe Investrnent Managers may so 8dvise. Th8 trustees accept a medium degree ol risk. Investment objgGtives The prtrnary invesimenl oblèthe 1$ to produce a b8lance of Income an¢J c4prtal grovrth over the me¢Jium temi. Achl¢v•m•nts and p•rfornianc• Equity and bond markets throughout th8 world showed 30me gains in 2025. The increase in VaatiOn during the year, reflected in the change In net assets, was £137.91312024'. £166,355). Since the year end, valuats'ons have mained broad positive. Sinc the Trust holds inveslments for the me(lium to temi, and maintain$ 8ppropriaie levels of liquidity changes #i asset valuau.ons do not h8ve any gnIfiCan1 effect on tha Trust's 8¢tivilies or objectiv&$. At the year end, the value of invèstmenls held in unreslrithd funds was £1.708.682.' those hekl in the Heritage Lottery Fund Heritage Endowwnen15 Fund ¥alued at £1.284.056, gimng total investments of £2.992,738 12024. £2.800,6751. Due lo the conllnulng volalllty In markets In the earty of the year, the Trust conlsnued to malntsin liquidlty In bank deposits and in the Inveslmenl Managers, liquidity lunds. Al the year end. cash al bank was £157,793 with a further £329,960 in liquidity fiJnds and cash he as part of the inveslment portfclio. Subsequent to the year end, in January 2026 Ihe Trust paid 8 grant of £220.000 lo the Museum to support its aciivili9s. This grant was agreed be1Ce Ihe year end so has been accrued in Ihe5e accounts. The combined value of assets held al the year end was £2,928.97212024. £2.954,7621.
WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Financial T•Vi•W The intention ol the trustees is lo bulhj up the ENtal and reseryos of the Twsl to meel the staled invesiment and grant giving objectrves. To this end the perfcmiance of Ihe Tntsi's inveslmenis are regulaty reviewed. The trustees consider the perfomiance ol the Trusf5 investments In 2025 to be broa(lly in line with globel markets. The reseNes hold al the year end are £2.928.97212024 - £2.954.7621. of £1.712.22012024 - £1,806,138) 8r8 unreslrtcted and £1.216.75212024 - £1,148.6241 arn hdd in the Harilage Lottery Furbd Herftage End0ventS Fund. The major risks lo whlth the Gharity is eX}sed, as idenlffjied by the Tw8lees. have been rewewed and systems or procedures have been 8slabFish8d lo mon8gè thos8 risks. The prim8ry risk is lo the value of the fvnds in the Trust and to minlmise this, the Trustees meet IM¢e a year lo review performance and maintain regular contsGI wth the Inveslmenl Manag•rs in bolween these meetings. The Trustee5 will continue to rn0nilc these Va$ d081ey. The knger t•mi cffitinu•8 to bo the support of Ihe Museum. Slructur•, gov•manc• and manaqemenl The Weald and Downland Open Air Museum Endovmient Tntst (the TN#tl 16 8 fegi8t8red charity, number 1084969, established by 4 tharitat4e trust deed on 23 Octobw 20. The Injsleès who 8er48d during Ihe year wer8: Pwgg Mrs Achnsts'e S F Knlght DL N Hart ICh8imianl M Le5 P J J¢nkin8 J C F Harvey Mr N Sutherland Thr9¢ of th• trustees may be 8pw'nl•d from th• oxisting truBtees of Iho W•8ld & Oovmland Op•n 'T Museum. Additional trustees are sought from individuals with MmercIal or investment management experience vtho can help further the object5 01 the Trust. New truslees are provided th a package ol inf0miaOn about the trust and the Museurn together with the reswn5ibiht4es of a charity trustee. The Trust 1$ administered and managed by the trustees. Asset eover for lund Nole 18 sgts out an anaysis ol lh8 assets attril)ulatle to Ihe variou¥ fvnds and a dgscription of the Irusts. Thg8e 8SS8ts are SLrficA8nl lo me&t Ihe charity's ot4ig8tions on a fund by fvnd bBws. On behall the board of truste8s N Hart IChaim)an) Tru51ee Dated.. 30 ft2 1& 10
WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST I report to the trustees on my examinatson of the finano31 ststements of We81d and Dovmland Open Air Museum Endowm8nt Trust Ith& tharity) for the yew 31 December 2025. Responilbllitl•s and basls of r•port As Ihe trustees of the charity you are responslbk the Weparati of Ihe flnandal statsments In accordance ¥th the requlremenls ol the Charities Act 2011 (the 2011 Adl. I report in respect of my examinalion of the chari5 financial st3temthts carried cwt under séctron 145 of the 2011 Act. In Calng out my examinatson I have folkN4ed all the applicab tirectsons given by ihe Charfly Cornmlssion under Sect1¢ 145I5llbl of the 2011 Acl. Ind•p•nd•nt •xamln•rfs stat•m•nt Your attentron 1$ drawn lo the fact that the tharity hos prepared fin8ncial statements in OCCOrdan wrth Acwunting Ind Reporbng by Chanties prepanng their accounis In accordance wlh the Fin8noal Reportsng S(and8rd applicBbbe in the UK and Republic of Ireland IFRS 1021 in preferenc8 lo the Accounting and RgpNling by Chari(ig$'. Statement ol Recommondod Practica issued on 1 Apn'l 2[15 ¥thich is ref8rrnd to in tha axtant WLblatsons but hAS now ba8n withdrawn. l understand that Ihls has been done In order f(x finanryel slatements to pmlde a true an(i fair vSew In accordance wllh GenerallyAccepled AcccMJnllng Practlce effedlv8 for repottyng pètlods bèginnlng () or after l January 2015. I have compleled my examination. I confirrn Ihal no matters have come to my attention in connection wlh the examination glving ma cause to beli8ve that in any matarial r8sp8ct.' accounting rewds were nol kept in reswct of Ihe charily as roquired by secticm 130 of the 2011 Act.. or the financial staiements do not accord wilh those records., ¢ the fin8ntial 8ts18menls do rhot cornp the applicab requirements conceming the fomi and content of acGounls sel OLrt In the Charlts'es IAc£(KJllts and Reports) Regulations 2008 other than any reqvir#mnt th81 th• accounts give a true and lair view which Is not a matter conSK1eI as part of an independenl examinab"on. I have no ccmcems and have come a¢yoss no olher mallers wTr connection *ryth Ihe examinati to which attention should be dravm in this report In order to enabl8 a proper understanding of the finanaal slatements to bo reached. D•vld Knlght FCA CTA Carwnter Box Piper House 4 Dukes Court Bognor Road Chichester Wesl Sussex P019 8FX Dated.. . loiL
WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 DECEMBER 2025 Unrestrlcted Endowment lunds fvnd• 2025 2025 Total Unrestrlcted Endowrnent funds funds 2024 2024 Total 2025 2024 Not•s IncDm• from: Donalions and Iat$ Inveslments 1,440 34.221 1,440 49,032 1.310 35,273 65,509 14.172 86,819 49,445 14,811 Totol Income and •ndowment 35.661 14.811 50.472 36.583 79.681 116,264 Exp•ndltur• on: Raising funds 5.652 4.405 10.057 3,692 2,982 6.674 vi Grants lo Weald and Downl8nd Open Air Museum including govemance costs 221,S60 221.580 161,516 161,516 Total ¢h•rlt¥bl• •xpendltui• 221,560 221.560 161.516 161,516 To(81 expendrtur• 227.212 4,405 231,617 165,208 2.982 168,190 Nel gains on investrnents 82,822 72,533 1SS.355 84.327 82.028 166.355 P4et Incom•ll•xp•nditur•) 1108.729) 82.939 {25.7901 144.298) 1 S8.727 114.429 Transfers between funds 12 14,811 (14.8111 14,172 114,1721 N•t mov•m•nt In lunds 193.9181 68.128 25.7901 130.126) 144,555 114,429 Reconclll•tlon of lund8.' Fund b81ances al 1 January 2025 1,806.138 1,148.624 2.954.762 1.836.264 1.¢XA,069 2,840.333 Fund balances at 31 Dteember 2025 1,712.220 1,216,752 2.928.972 1.8.138 1.148.624 2,954,762 The slalement of finanu81 actiwties indude5 al gains and k8es re¢jI$ed in the year. All in¢(The and expenditure derive Irom Gonlinulng aCtities.
WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST BALANCE SHEET AS AT 31 DECEMBER 2025 2025 2024 Note• Fix•d as8•t8 Inveslrnents 2.912.738 2.800.675 Current as8et Investments Cash at bank and in hand 14 157.793 155,526 237.793 155.526 Credltor5.' •mounts lalllng du• ¥Athln one year 15 221.559 1,439 N8t curr8nl a88818 16.234 154.087 Total a••ts curr•nt Ilabllltl•• 2,928.972 2.954.762 The fund• of th• charlty Endowm&nl funds Unrestricted lunds 1.216.752 1,712.220 1.148.624 1.806,138 2,928,972 2.954.762 Its hPl1 zu The flnancbal statements wore approved by the trustees on ......................... M Lewis Tru•t••
WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025 2025 2024 Notes Cash flows from op•ratlng acllvbtl•s Cash absorbed by oper8tn$ 110.057 190.8281 Inv••tlng aCtlYltle• Purchase ol investments Proceeds from disposal of invesbrnnts tess movemenl in cash Investment Incorne recdvod 11.373.742) {388.313) 1.337.034 49.032 49,445 N•1 ¢••h generat•d fromlluud In) Inyestlng ¥dlvltle• 12.324 1338.8681 Not cash In fbn•nclng a¢tfvltl N•t Incr•as•lld•cr•a••) In c••h and c••h •qulvalents 2,267 (429,6961 Cash and cash equivalwts at beginning of year 155.526 585.222 Ca•h and c•h •qulvl•nt• at •nd ol y•ar 157,793 1 S5,S26
WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accoun9 pollch• Charlty Informatlon Weald and Downland Open Air Museum EnOr1 Tnjsl is an uninwrIeil charity domiciled and iegislere(i in Erbgland and Ihlales. The wncipal address is Slnglelon. Chichester, West Sussex, P018 OEU. 1.1 AccoUnn9 conventlon The financial slaternents have been pPared in accordance with the charitys goveming doffient, the Chartties Act 2011 and 'Accounting and Reporb"rvJ by Chantles.. Statement of Recommended Practice applicable to ch8nts"e5 prepanng their accounts in accordance with thts Financial Repcrfiing Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019).. The ¢harily is a Public Benefll Enllly as defined by FRS 102. The finanu81 statements have departed from the Chariti'es IAc£ounts and RerKffts) ReguFations 2008 only lo the extent requirod to prowde a tnFe and lair view. This departure has involved folb)wing the Siatement of Recomm8nded Practice for chariti'es 8pplwng FRS 102 rather Ihan the v8rsK>n ol the Statement of Recommended Practice which is referd to in the Regulatlons bul which has been withdrawn. The financial slalomenls are prgpared in sterling. vthith is the funclional euffancy of the chadty. Monetary amounts in these financA81 stalements are rounded to the nearest £. The accounts have been prepared under the hi51ori¢al ¢¢t convention. modified lo incknle certain financial instrumenls at fair value. The principal accounting polioes adopled are set out bekny. 1.2 Golng conc•in Al the time ol aptKo¥ing the financial statements. the Irustee8 have a reasonabk expectstknn that the cttanty has adequate resources to continue in operational existence for the loreseeable fuluffj. Thus the trvstees continije lo adopt Iha going conGom bags of ACC1nn9 in weparing th8 finanrAal statements. 1.3 Ch•rftsbl• funds Unrestricted funds arè available lor usè al Ihe disCron ol the trustees in furtherance ol th8ir charilablo objectives. The Endowment fijnds represent the MleS Ir8nsferred from the Weald & DownL4nd Open Air Museum Limlled lo the Trust that are invested in the Herrtage Lottery Fund Heritsge Endowments Fund. The Endowrnenl funds comprise amcAJnts raised by Ihe Museum whith have been malchgd by grants from the Heritage Lollery Fund. The oity'ed of Ihe fund is to support the long temi objectives of the Museum by providing grants SOUTced from Income and caytal 985, over and above Ihw negdgd to weserve the capital of the lund in real tems. 1.4 Ineom• Income is recounlsed when the charfty Is allY entitled to tt after 8ny perfomion(*J cnndilions have been rnel, the amounts be measureo th.abty, and il is Ihat inrne wil be received. Cash (Jonth"ons are rocognisetl r1p1. Othw d(atIonS ar8 r8ccgnis8d once the charity has been nobfl8d of the donation, unless perfcrfmanee condilK)ns require deferral of (he amount. Income tax recoverable in relation to donations received under Gift or deeds of cover¢anl is recognised at Ihe b'me of the donation. Legacies are recognised on receipt or otherw¢se if the tharity has been notified of an imponding dislribution. the amounl is known, and receipt is expected. W the amount is nol known, the legary is treated as conts"ngenl asset. 1.5 Expondlturo
WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting pollci•s IContinu•d) Resources expended are aecounled for on an basis. Expendilure has been identified between raising funds antl charrtabbe activities. Grants paid are included in charitsble activities and aGGounlancy fees and bank charges ar8 Induded in wvemance (xjsts ithift tharilable actiwties. 1.8 Flx•d •s¥•t Inv•skn•nts Fixed a86et investments are stated at market value. Unreallsed and reallsed 98in and losses ore r8(x)Jnl8ed in the Ststemenl Of Fin8naalAcliMti8S. 1.7 C••h •nd ¢a¥h •qulval•nts Cash and cash equivalents include cash in hand. deposits hekl al ram vAth banks. other short-16m liquid investments with original maturities of three rTKffiths or l&ss, and bank overdrafts. 8ank overdrafts are sh¢)wn within borrowngs in CUTrenl118bililies. 1.8 Flnincll In•trum•Trt• The charity has elected lo the FYovis1 d sec11 11 '88'c Flnanu81 kn5trumonts' and Section 12 'Olher FinanciAI Instruments Issues, of FRS 102 to all 01 rt8 finanrAAI instruments. Financial InstnJm8nts are recognised in the chanty's balance sh•et Wh th• cbarity bets)mvs party to the contractual prwsions ol the instrument. Flnancial assels and Ilabllilles are offset. th the nel amounts presented in ihe fin8nclal stslemenls. vthen the is a legalty enforceable nghl lo stl off the recc3nr&ed amwnts and therè is an inlènb'on to Settle on a nel basis or to realise the asset and settle the liability simuttoneousty. 8#k Ilnancl41 •ss•ts Basic financial a55e15. which include debtcn and cash and bank balanc85, are inTrtially moasured al transartion tce Induding transactbon costs and 8re sub58quèntty carried at amortlsed cost uslng th8 èffèctiv• interest method vnless the arrangement ¢$trtY1eS a finanang transaction, ¥th¢re the transaction 18 measured al the present value ol the lutuie receipts discwnled at a market rate of interest. Financ4al assets assified as receivable within one year ar¢ nol arn11$0d. Oth•r fln•n¢l•l 4$sets Other financial assets, indudlng Investments In equty instruments %thlch are not subsldiarfes. associate$ or joint ventures. are iniljalty meaSUd at fail value. which is normally Ihe tr8nsactson pri. Such assets aro subsequentty Me0 al fair value and the changes in fair vaKJe are reccrfjnised in net incomellexpendilurel. except thal investmenls In equrty instruments thal Are not publicty traded and whose lair valves Cannot bo measured reliabty are measured at cost les5 impaimienl. Impalmient ol ffn•ncl•l •ssets Financial assèts, other than Ihose held 81 fair value Ihrough income and •xp#ndrtiJre, ats 88sessed for indicators of impaimienl at each reporting date. Financial assets are impaired where there is objective evidence that, as a resutt of one OT more events th8t 0¢tred after the Initial recognitron of the financial a5seL the estsmated fvture cath tlows have been affe(Aed. If an asset is impaired, th8 impaiment 15 the drfferenc8 b8fv488n the caryng amount and th8 pr8sènt value of the eslimaled cash flows discounted ai the asset's onginal effective interest rate. The impaimient1088 is recogni5ed in net incomellexpendrturel for the year. If there is a decrease in the impairment loss afising from an event 0rring after the impaimient was recognised. the impaimient is reversed. The versal is such that the current Carrn9 amount does not exceed what the carrying amwni would have been, had the impaiffnenl not Previousty been reccNJnised. The irnpairment reversal is recognised in nel incomellexpendilurel for the year.
WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Aceounting poli¢1•8 IContsnu•d} Dere¢ognttlon of fln¥ncl•l •s$ets FinanGial assets are Llerecognised vknen the contractual rlghts to the cash frc¥n the asset explre or are settled, or vthen the charity transfers Ihe finana81 Bssel and substantially all the risks and rewards of ownership lo another entity. or rf some significant risks and rewards ol ownership are retained but control of tho assot has Iransferred to anothor party that IS to so11 Ihe asset in its enbrety lo an unrelatod Ihlrd paty. B•sk flnanclal Il•bllllle$ Basic finanual 1¢a.11t1e$, induding fnditors and bank bans are inrtialty recogntsed at transacti(m prlce unless the arrangement conststutes a financing transacbon, vthere the debt instrument is measured at the present value of thg luturo payments discounted at a mark¢t rat& of interest. Finan¢¢al liabilitsos classified as payablo wlthin on• year Bre not amortis•d. Debt inslrurnents ar8 subsequentty carrled al aMlIj cost, using the eff8thie Interest rale method. Trade crèdil¢Jts are obligation$ to pay for gcths c 8WViC88 that have been ac4uired in the d1ft8ry ctyJr8e of operab.ons from suppliers. Amounts payatle are d8ssffied as Current liabilitsos rf pgymont is due vAthin one year or less. H not. they are presented as ncrfKurrenl h8kn'1iti'es. Trade Credrtors are reu)gnised inits'ally al transaction price and subsequenlty rneaSUd at amortised cost ujing the effectrve interest method. other Ilnlnchl Il•bllhles Deriv81ives. Including Inleresl rate swaps and lovryI fcyeign exchange contr8cts, are not bgsic finBnci81 instNments. Derivats"ve8 ère Inrtialty recognised al fwr va8 on the date a dgrivativo ntra 1$ enlered into and are subsequendy Trmeasured at their fair value. Changes in the fair valu8 of derivatsv8s are regnised in or in finance costs or finance income as appropriato. un1ts58 hedgt aceounlino Is app¥ed and the hedge is cash flow hedge. D•r•¢ognltlon al Ilnanclal Il•bllltl•s Financial liab'lity"es are derecwnised 4thgn the tharity'¥ rthtrathal c*4igation8 expire crf are discharged or cancelled. Income from doTratlons and legacles Unrestrlcted Endowment lunds funds 2025 2025 Total Unr•strlcted Endowment funds funds 2024 2024 Totsl 2025 2024 Don8tions and gifts 1.440 1.440 1.310 65,509 66.819 Included in the above arnount in 2025 are lunds of £1,440 {2024 - £1.3101 received frcrfn the Museum. In addition. restricted funds of £0 12024 - £65.509) We received from the Museum in rew of the final instalment ofthe Heritsge Lottery Fufid Herrtage Endowments Fund.
WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Incom• from Invesbn•nts Unrnstrlctod Endowmenl funds fund• 2025 2025 Totsl Unrestrlctsd Endowment fund* funds 2024 2024 Total 2025 2024 Income fr(#m unlisled inv8stm8nts Interest receivablg 25,866 8,355 14.449 362 40.315 ,717 26.459 8,814 13,896 276 40.355 9.090 34.221 14,811 49.032 35,273 14.172 49,445 Ral•lng funds UTrr•¥tri¢t•d Endowmenl fund• fund• gen•r•l 202$ Totsl Unrestricttsd ETthwTnent lunds funds general 2024 Tol81 2025 2025 2024 2024 Invèslmenl management fees 5.652 4.405 10.057 3,692 2.982 6,674 5,652 4.405 10.057 3,692 2.982 6.674 Exp•ndltur• on ch¥rlt•bl• •dl¥lil•i Gr•nt• to Grnnts to We•ld and Weald and Downl•nd Downland Op•n Alr Open Alr Mu••um Musèum Includlng Includlng gOV•man governance costs costs 2025 2024 Dlrect costs Grant funding of actiwtses (see note 61 220,000 160.000 Share of support and gov•rnane• costs {¥e• note n Govemance 1,560 1,516 221.560 161.516 Analysis by fund Untsstrfcled lunds 221,560 161.576 10-
WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Grnnts payable Gr•nts to Grnnts to Weald and Weald and Downland Downland Open Alr Open Alr Museum Museum Includlng Includlng gov•rnanc• governanc• costs costs 2025 2025 Grants lo Snstltutions.. Wedd and Oownland Open Air Museuffl 220.000 160.000 Support costs Supwt Go¥•m•n¢• cost• costs 2025 Support Gov•rn*n¢• co•ts 2024 Accouni8ncy Independent Examinats'on fees Bank tharge8 1.560 1,440 76 1.440 76 1.560 1.516 1.516 Analysed bèlween Charitable activittes 1,560 1,S16 1,516 Galn• and los••s on Inv•stm•n Unv•$tri¢t•d Endowm•nt fund$ funds 2025 2025 Totsl Unr••trlct•d Endowm•nt fuo)ds lund# 2024 2024 Total 2025 2024 Gainsllbssesl arising on.. Revalualion of investments Sale of investments 72.848 9,974 85,065 7.468 137.913 17.442 84.327 82.028 166.355 82,822 72,533 155,35S 84.327 82,028 166,355 Tru$t••s None of the Iruslee5 lor any persons ca)nn6cted them) recetved any remuneration or reimbursement of expense5 during the year. 11
WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 IQ Employm• The 8ver8ge monlNy number of employees durir4J the yeor was.. 2025 Numb•r 2024 Number Total There were no emF4oyees whose nUal remuneratson wa5 than £60,IYJO. R•mun•ratlon of k•y mang•m•nt personn•l There is no rernuneralion of key management peTwnno1. 11 T•x¥tlon The Is exempl from tsxauon on As actiwties because al Ils Inrnme Is applied ft chatable purposes. 12 Tran•f•r• Thè transfer bètween fund¥ is made up ol the 10knn9:" £14,811 12024.. £14.1721 transferred Irorn endowment to nstricted funds which 1$ dividend and inteTe81 income arislng on the endo¥mient fvnd that can in acc(¥d8nce vith the objects of the charity. 13 Flx•d ••vt Inv••lm•nts UnH•t•dLlquldlty Ftsnd Inveltments C••h In portlollo Total Cost or v•lu•don At 1 January 2025 Additions Valuation changes Transfers l Movements in cash Transfer to Current Asset Investments Dlsposals 2,516,799 1.225.41XI 137.913 131.5Th)) 263,457 148.341 20,419 2.800,675 1,373,741 137,913 3,647 180,0001 11,323.2381 31.500 180.¢JOOI 1137,4041 3,647 11.185.834> Al 31 December 2025 2.662,778 225.894 24,066 2.912,738 Carrylng amount At 31 December 2025 2.662.778 225.894 24.066 2.912.738 Al 31 December 2024 2.516.799 263.457 20.419 2,800.675 Flxed a$8et Inve•tment• revalued The historical cost of the investments Iwhlth Irude5 the Currenl asset investments) held at 31 December 2025 Is £2.914,459 (2024 - £2.589.405). 12-
WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 14 Curr•nt a8••t Inw$tmonts 2025 2024 Llquidity Fund 80,000 15 Cr•dllors: •mounts f•lllng du• T*lthln on• y••r 202S 2024 Other creditors AccnJats and deferreil inc(Nn8 220,0(M) 1.559 1,439 221,559 1,439 16 Endowm•rrt fund8 Endowment lunds represenl assets hehj in the Heritage Lottery Fund Hèritage Endowments Fund. The capttsl is maintsined permanentty by the charrty. Income ariskng the lunds can be used in acrThdance wrth Ihg objects ol the charity. At 1 J•Du•ry 2025 Incomlng r•Jourui Resourc gxp•nd•d Tr•n•f•r• Galn• and lo•••• At31 D•c•mb•r 2025 P•rnian•nt •ndowm•nts Heriiage Lottery Fund Heritage End0vents Fund 1.148.624 14.811 14.4051 (14,811) 72.533 1,216,7S2 Pr•vlous y•ar: At 1 January 2024 Incornlng r••our¢•8 R•sourc•s •xp•nd•il Transf•rs Galns and 1088•8 At31 D•c•mber 2024 Pomanent endo¥mi•nts Heniago Lottèry Fund Heritage Enflowments Fund Heritage Endowrnenls Fund donatsons not yel rnalch funded 969,5T8 79,681 12.9821 20,319 82,028 1.148,624 34.491 134,4911 1.1)04.069 79.681 12.9821 114,1721 82.028 1.148.624 13-
WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 17 Unr•strict•d funds The unrestricted funds of tre charity comprise the unexpended b818nces of donations and grants thich are nol subject lo sperAfic conditsons by donors Bnd gr8nt(KS 8$ lo how they may be used. These Indude designated lunds vhich have been set aside out of unrestricted fijnds by the Iruslees for speufic purposes. At 1 January 2025 kncrynlng R•sourc•s r•sourc• •xp•nded Trnnsfern Galns and At31 loH• December 2025 General funds 1,806,138 35.661 Ir27.2121 14,811 82,822 1,712,220 Pr•vlous year: At 1 January 2024 kncomlng R•wur¢• r••OUrl •xpend•d Trnnsl•r• Galns and los•• At31 D•umb*r 2024 Gener81 fijnds 1,836.264 36.583 1165.2081 14,172 84,327 1,806,138 18 Analy81• of n•1 J•¥•ts b•twwn funds UnrMtri¢tsd endowment fundg fund• 2025 2025 ToL•l 2025 Fund bal•nce• •t 31 D•cemb•r 2025 •r• r•pr•Mntsd by.. Investments CuThent assel investm8nl8 Other Current 8ssetsllliobilitses) 1,628,682 80,000 3.538 1,284,056 2,912,738 80,000 163.7661 (67,3041 1.712.220 1,216,752 2,928.972 Unrestrlcted EndowiTr•nt funds fund8 2024 2024 Total 2024 Fund bathnce• •t 31 Oecember 2024 0rn r•pr•••nted by: Inveslmenls Cuffenl assetsl1l1a'liIieSI 1,599,557 206.581 1.201,118 52,4941 2.800.67S 154,087 1.806.138 1.148,624 2,954,762 19 Ev•nts after the reporting The value of Ihe investrwits heki rernains broadty in I'ne wilh the year end ¥aationS. In January 2026 a grant of £220,000 was paid to the Museum to supp(wt its 8¢tivilJes. As Ihis grant was agrèèd before the Balance sheet date it has been accrued in these accounts. 14-
WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 20 C¥sh gon•rnt•d from operations 2025 2024 {DeficrtYsuuS for the year 125,7901 114.429 A(Jjuslmen15 for. Investment InMe recoynl8ed profll bj Gain disposal of investments Fair value gains and losses on investments {49.0321 117,4421 (137.9131 149,44SI 1166.3541 Movements in working capitsl,. Ilncreaselldecrease in debt(Ys Increase in creditors 10,413 129 220.120 C*•h •b•orfo•d by op•v•tlon• {10,0571 190,8281 21 Analy8ls of chang•s In n•t lundi The charlty had no material debt during the year. 22 R•lat•d party transactlons During the year £1,440 12024 £66.8191 donations V•YTe receivable from Weakj & DON18nd Open Alr Museum Lirnited and £220,000 12024 £160,0) in grnnts were committed or paid lo Weald & D¢)wnland Open Air Mu$8um Limrted. In¢bded in Creditorn is £220.00012024 - £01 owed to Weakl & Downland Open Air Mus8um Limlted. 15-